San Francisco hotel company makes fourth local acquisition

San Francisco-based Roseville Hospitality LLC, a hotel investment and development company, has bought the 85-room Hampton Inn & Suites in Roseville, which marks its fourth investment in the region.

San Francisco-based Core Management LLC, which is controlled by the same group of partners as Roseville Hospitality, will manage the property.

Core Management also operates the Holiday Inn Express in El Dorado Hills Town Center and will operate a 115-room Aloft Hotels by Marriott in the same center after it is completed. Construction could start on the $25 million Aloft project as early as February. Core also operates the Hotel Med Park Sacramento, which is across the street from the UC Davis Medical Center.

“It was a good opportunity,” said Sam Patel, a partner in Core Management. “We’ve been quite happy with the Sacramento market.”

Roseville Hospitality LLC paid $13.65 million for the Roseville Hampton Inn, according to Placer County property records.

The offer to buy the hotel was unsolicited, said Brett Baumgarten, CEO of Coastal Partners, which develops office and industrial properties in California and Illinois. The Roseville Hampton is the first and only hotel the company developed.

“It worked out great for us. I would do it again,” Baumgarten said. He completed the hotel just as the recession started, but said the strong Hilton reservation system and being locally owned worked out for the hotel, which was always profitable.

He wouldn’t say what it cost to develop the hotel in 2007. The property is at 110 North Sunrise Ave., near the intersection with Douglas Boulevard and visible from Interstate 80.